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Theres a lot of ways. the easy way is makeing a movie clip
With the text and a stop action on the first frame write the text in the second frame of the MC and put the MC in the movie where you want it to be than on the button action on roll over tell target the MC to play frame 2 and your done .This FOR SURE IS NOT THE BEST WAY But you said your new to FLASH and it is one of the easiest ways I Know.

Thanks for the help. Can you give me the other ways, please? I might be able to get them. As it happens, this effect is to be embeded within a looping movie clip, making your suggestion a bit cumbersome.